Bankrupt crypto lender Celsius Network has reached two agreements that could allow assets to be returned to customers and the bankruptcy proceedings to end, The Block writes.
According to the publication, one of the agreements allows users to settle claims of fraud on the part of the company's previous management by increasing compensation by 5% of the deposit. In total, the agreements resolved 30,000 compensation claims totaling $78 billion.
The second agreement resolves a dispute between Celsius' two largest customer groups: interest-bearing account holders and recipients of fiat currency loans secured by digital assets. Borrowers sought a more preferential reimbursement regime and were given the opportunity to return cryptocurrency from the collateral after repaying the loans.
The reorganization plan #Celsius involves returning part of their cryptocurrencies to customers and compensating the rest with shares of the new company.
